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Electronic trading market prices fluctuated in narrow ranges and closed slightly lower on Thursday. Oct., Nov. and Dec. Raw Silk touched the low of 199700Yuan per ton and closed at 200000 Yuan. Traders of raw silk felt the heavier selling pressure overhead than dried cocoon. It seems that the raw silk trading is testing the previous key support of 200000 Yuan. However, to the buyers, the resistance was huge at around 200000 Yuan. Recently, many participants dare not to increase positions due to the lack of direction of the market. Moreover, short-term players can’t perform well generally during the consolidation period.
Spot prices differed little compared to some days ago.

　　　　　　　　　　　　Change 　　　Range 　　Net position
Raw Silk for Sept. 2005　　　-600yuan/ton 202700---203900　698
Raw silk for March 2006　　　0 　200600---202100　1604

Dried Cocoon for Sept. 2005　 -100yuan/ton 62200---62500　　　62
Dried Cocoon for March 2006　0 63500---63800　　2124